The ceasefire between the U.S. and Iran ruptured this week after the U.S. launched more than 80 strikes on Iran midweek in response to Iranian attacks on ships moving through the Strait of Hormuz. At a NATO summit in Turkey, President Donald Trump declared the ceasefire to be “over” and promised additional strikes on Iran.
US stocks ended the session mixed on Wednesday, while oil continued to surge after President Trump declared that the memorandum of understanding between the US and Iran was “over.”
The Dow Jones Industrial Average (^DJI) fell roughly 1%, or more than 500 points,
This article was originally published on ETFTrends.com.
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A few Federal Reserve officials thought there was a case to raise interest rates at the June policy meeting. But most saw two paths this year — holding or hiking — according to meeting minutes released Wednesday.
If inflation dissipates, most officials favor holding rates steady or eventually lowering them.
The Dow Jones Industrial Average dropped sharply on July 8, 2026, after President Trump made remarks casting doubt on the durability of the existing US-Iran ceasefire. The Nasdaq Composite, meanwhile, managed a modest gain, a split-screen moment that tells you a lot about where investor anxiety is actually sitting right now.
The broader concern is the Strait of Hormuz,
» Read more about: Dow closes sharply lower, Nasdaq posts modest gain amid US-Iran tensions »
Oil prices climbed higher following the attacks, rising above $70 a barrel.
Meanwhile, investors once again rotated out of technology and AI stocks, moving into more traditional industries like healthcare and financials.
Investors will be watching the minutes of the Federal Reserve’s June meeting,
President Trump, venting his longstanding animus toward Europe at the NATO summit in Ankara, Turkey, singled out Spain with particular spleen on Wednesday.
“I don’t want anything to do with Spain,” he said of the European Union’s fourth-largest economy. “Cut off all trade with Spain, please, including visits.”
“They’re hopeless,
» Read more about: Trump Lashes Out at Spain: ‘Cut Off All Trade.’ Here’s Why That’s Unlikely. »
WASHINGTON – Some US Federal Reserve officials saw reasons to hike rates at the central bank’s June policy meeting given elevated inflation on fallout from the Middle East war, minutes of the gathering showed on July 8.
“A few participants commented that, in light of these developments, there was a case for raising the target range for the federal funds rate,” the report said.
» Read more about: Some US Fed officials considered June rate hike on Iran war fallout »
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The Federal Reserve held rates steady at 3.5-3.75% last week and nudged its year-end median projection up to 3.8%. Markets panicked anyway. Bitcoin dropped to the $63,000-$64,000 range, the S&P 500 wobbled, and the usual chorus of doom filled financial Twitter. But a growing cohort of options traders is looking at the wreckage and seeing opportunity,
» Read more about: Options traders bet on Federal Reserve overestimating interest rate hikes »
